00:01
Okay, so the statement here is going to be somewhat subjective and really depends on how we are going to define power over the u .s.
00:16
Economy.
00:17
But both the president and the federal reserve have significant influence, but in different ways and through different mechanisms.
00:25
So the president, as far as budget and spending, they proposed a federal budget and signed spending bills into law.
00:34
For legislation, they can influence or propose economic legislation and trade policy.
00:40
They have authority to negotiate and sign trade agreements, though they do often require senate approval.
00:46
For the federal reserve, known as also the fed, so for monetary policy, controls short -term interest rates, influencing borrowing costs and the availability of credit...